Estate & inheritance tax planning
You’re likely to want to pass as much of your wealth to your loved ones as possible. And you’ll want to provide for your dependants, especially your spouse and children.
By building an sensitive understanding of your family circumstances and wishes, and applying our specialist experience of inheritance tax and tax-efficient structuring, HMRC’s claim on your estate could be minimised so your loved ones receive more of your wealth.
We also have expertise in the tax-efficient use of trusts in the UK and overseas (offshore trusts), we can also organise wills and Lasting Power of Attorney for you – comprehensively protecting your estate and giving you peace of mind.
What factors determine my IHT liability?
The actual amount of IHT your estate will have to pay depends on many factors. These include:
- Your marital history
- The location of your assets in the UK and around the world
- The composition of your estate – property, cash, stocks, shares, art, antiques etc
Our inheritance tax specialists can assess your exposure to IHT after reviewing your finances and family circumstances. We can then help you to structure your estate tax-efficiently to preserve its value.
To better understand your potential IHT liability, you can use our Inheritance Tax Calculator.
What were the IHT changes announced in Autumn Budget 2024?
From 6 April 2026, business property relief (BPR) and agricultural property relief (APR) are reformed. While the existing 100% reliefs continue for the first £1m of combined agricultural and business property, thereafter the rate of relief will be 50%.
From 6 April 2027, the balance of any pension fund unused at the date of death (and death benefits payable by a pension scheme) will be brought into the pension owner’s estate for IHT purposes.
What are the key areas of estate planning?
Our comprehensive approach to tax-efficient estate planning covers:
- IHT – structuring your estate to minimise your exposure to inheritance tax
- Wills – writing or updating your will to preserve the value of your estate and determine how it’s distributed after your death
- Trusts – assisting with the drafting of trust documents for preparation by solicitors.
- Lasting Power of Attorney (LPA) – preparing documents so you can appoint people to make decisions about your health & welfare and/or your property & financial affairs if you become incapacitated
For further information on our inheritance tax planning services, please contact our specialist advisers for expert advice.
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